PROJECT

Projects

Summary of Investment Information

Project Number

43882

Company Name

KMF Bank JSC

Date SPI Disclosed

Apr 22, 2021

Country

Kazakhstan

Region

Central Asia and Turkiye

Projected Board Date

May 11, 2021

Environmental Category

FI-3 - No Impact

Status

Completed

Last Updated Date

Oct 17, 2024

Department

CF2S8 - Regional Industry - FIG - ECA/FIG Inv Operations - ECA

Industry

Financial Markets

Previous Events

Approved : May 14, 2021
Signed : Jun 2, 2021
Invested : Jul 8, 2021

Sector

Microfinance and Small Business - Non Commercial Banking

Project Description

The proposed project consists of a straight senior loan of up to US$25 million denominated in Kazakh tenge (KZT) to Limited Liability Company microfinance Organization “KMF” (“KMF” or the “Company”) to enable KMF to provide much needed local currency funding to micro and small enterprises (MSEs) that have been negatively affected by the COVID-19 pandemic in Kazakhstan, particularly those operating in rural and remote areas (the Project). As of end-2020, the Company had a gross loan portfolio of US$324 million and 222 thousand active clients. The Company owns a network of 14 branches and 110 outlets.

  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation